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FinancialNews


  • 06-09-18

    Egypt expects 5.7-6 percent economic growth

    (MENAFN) Egypt's Minister of Finance Mohamed Maait suggested that his country is to likely see an economic growth of around 5.7-6 percent during the current fiscal year.

    The finance minister stressed that the Egyptian economy is enjoying a powerful capability to lure investment, as the government works to record a decline in unemployment.

    The economic growth projection for the 2018-2019 fiscal year has been set at 0.2 percent, which is a boost from the previous 5.8 percent forecast.

    Maait stated "Egypt is targeting a budget deficit of 8.4 percent of GDP for the 2018-19 fiscal year that ends in June, compared with 9.8 percent in the previous year."

    He added "our economy has grown faster than we've expected, our GDP has grown faster than the falling of our debt."

    MENAFN0609201800450000ID1097394174

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